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Saudi Arabia ready for current situation
The article focuses on the economic and investment developments in the Kingdom of Saudi Arabia. The Saudi economy has experienced significant growth in bank deposits, which increased by more than 177 billion riyals since the beginning of the year, compared to a rise in loans of around 80 billion riyals. Additionally, Saudi investments in renewable energy have reached $17 billion over the past five years, contributing to economic diversification and strengthening non-oil sectors. Furthermore, economic relations with Russia are advancing, with the signing of 13 strategic agreements valued at $1.28 billion and expanded cooperation in the minerals sector. Saudi Arabia is also preparing to enhance its position as a major hub for AI-focused data centers by 2030, alongside developing its military manufacturing capabilities and leveraging mineral resources estimated at approximately $2.5 trillion.
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